Portfolio Changes:

The first thing we can look at is the geographical risk distribution of the portfolio before and after the rebalance,we can see there was a slight increase in the two biggest investment risk countries, Canada has signifcantly moved up the ranking and a there is a decrease in the countries in which risk was less present before. To investigate this further we can define the increase by geographical region.

Now we can clearly see the increase in Canada, as well as the slighter increases in other countries.
Most notable is the change in Israel, which has decreased significantly. This may be due to instability in the area leading to increased risk.
Broadly, there seems to be a diversification to outside of Europe. To get a final overview of the hierarchy in the portfolio we can examine a box-plot of the industry standard classifications to get a good idea of which areas of investment have increased and decreased in the portfolio for diversification.

We can see the strongest increase in Automotive Retail and Industrial REITs, automotive as a broad category appears green across the plot, which may be compensated for by the increased invesment in Tesla. This may be a 'bubble', to hedge this investment and negate some risk an investment such as REITS holds value regardless of inflation. Overall there is a decrese in investment in hypermarkets, 'metals and mining' and reinsurance. Likely these could be traced back to the pandemic changing risk profiles, for eaxmple the hypermarket decrease could be due to the pandemic making large stores more risky to visit.